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Property 2Alps, France - Sale/Leaseback

  • 16-10-2006 9:01am
    #1
    GaryKelly
    Closed Accounts Posts: 18 ✭


    Hi

    Has anyone gone down the sale and leaseback route, just back from a trip to Grenoble and up to 2Alps and Charmarouse. Pretty impressive surroundings with outlays of about 120K plus for some very very small apartments. Looking at about 4.25% return with "hopes" of capital appreciation. Any experiences shared much appreciated...

    G


Comments

  • #2
    Sponge Bob
    Banned (with Prison Access) Posts: 25,234 ✭✭✭✭Sponge Bob


    I understand the various management charges and the fact that you can never change management company ...practically ever.... because of a Vat hit at that point make many of these a very dodgy proposition .

    If it looks to good to be true it is too good to be true .


  • #3
    mckers
    Closed Accounts Posts: 21 ✭mckers


    to be fair Gary, 4.25% is not a fantastic return, and especially if you are getting a loan to cover the cost, you will probably end up in a loss making situation. Was looking at Tuscany (saw one of those property programmes on Discovery), higher prices, but you could always consider a syndicate/partnership. Mentioned one place where you would be looking at stg£50k + p/a in rent on a stg£300k purchase. Impressiver to say the least, thats a yield of 16.67% +


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